Originally Posted by
Funk
Are you impugning the strategic and managerial genius of our company leadership?!?! Blasphemy!!!
Side note, if the refinery has lost money and has no value, why do we keep it at all? And why keep hemorrhaging cash on this venture that has no value, but cut a much cheaper asset (pilots at the bottom of the pay scale) which will actually serve a useful purpose when travel demand increases, possibly at a rate that exceeds training throughput to reconfigure the network in a timely manner?
It may have some value to us. It has no value on the market. No one is going to touch a refinery with the pollution issues they all seem to have. Why do you think we were able to buy it so cheap in the first place? Since then refineries values have dropped even more with the rise of electric vehicles. It has also never shown a consistent profit. Would you buy a money losing business? Here is a article that even mentions our refinery. I suspect that within 10 years Delta shuts it down and takes a multi billion dollar write off for environmental cleanup.
https://www.reuters.com/article/us-health-coronavirus-refinery-runcuts/oil-refiners-face-reckoning-as-demand-plummets-idUSKBN21K0C8